IBM has unveiled five AI trends that will shape businesses in 2024. As humans and technology intertwine, trust emerges as a precious commodity shaping the dynamics of business and technology landscapes. In the intricate dance between innovation and reliability, trust has evolved into a key differentiator for organizations. This paradigm shift is echoed by 81% of executives across the C-suite who consider security, assurance, and trust as pivotal brand attributes setting their organizations apart.
However, despite recognizing its significance, leaders grapple with the challenge of acquiring and sustaining trust. A mere 55% of CEOs express confidence in their organizations’ ability to accurately report the information stakeholders demand for data security and privacy.
This struggle extends to consumer trust as well. A notable example is the decline in consumer trust regarding sustainability, plummeting from around 50% in 2021 to a mere 20%. Yet, when it comes to brand selection, a staggering 90% of consumers cite trust as the most influential deciding factor.
2024: The Convergence of Machine Intelligence and Trust
As we step into 2024, a pivotal year unfolds where business leaders must delicately balance the scales of technology and trust. While embedding trust into every facet of an organization is not a novel concept, the task becomes more intricate with the advent of generative AI, global uncertainty, heightened competition, and the continued ascent of ecosystems.
Trend 1: Organizations Move from “plus AI” to AI Plus
Three out of four CEOs emphasize the critical role of advanced generative AI in gaining a competitive advantage. Despite this, over 60% of organizations are yet to develop a consistent, enterprise-wide approach to generative AI. Moving beyond “plus AI” requires a rethinking of workforce strategy, ensuring a clear vision of supporting employees through inevitable disruptions.
Trend 2: People Who Use AI Will Replace People Who Don’t
Anticipating a surge in AI as a coworker, 2024 foresees AI bots becoming integral parts of the workforce, handling routine tasks and enabling humans to focus on higher-value, strategic work. Trust in AI becomes paramount as workers face the need to reskill, with 40% of the workforce expected to undergo reskilling due to AI and automation.
Trend 3: The Data Conversation Moves Out of IT, Into the C-Suite
In 2024, data transforms from a technology concern to a business imperative. With the increasing threat of manipulated data, organizations must not only safeguard data integrity but also protect against poisoning. CEOs recognize data lineage, provenance, security, and privacy as barriers to adopting generative AI.
Trend 4: Operating Models Bend So They Don’t Break
Operating models take center stage as leaders seek flexibility in the face of an unpredictable world. Technology, particularly AI and analytics, provides the capability for real-time responses to shocks, transforming enterprises into more elastic, adaptive entities. Generative AI-enabled dashboards become sophisticated tools for managing and mitigating disruptions.
Trend 5: Ecosystems Are Not Part of the Strategy, They Are the Strategy
Ecosystems evolve from disjointed entities to integrated virtual collectives with shared purposes. Trust in ecosystems becomes a competitive advantage, with businesses recognizing stronger financial results and enhanced access to relevant skills through participation in ecosystems.
As we navigate the complex interplay of trust, technology, and business strategies in 2024, organizations must prioritize transparency, ethics, and the human touch to build and maintain the invaluable currency of trust in an ever-evolving landscape. Trust, once gained, becomes the bedrock for innovation, resilience, and sustained success.
